Worldwide advertising revenue to hit $486 billion this year

No Olympic glow this year

Oli Scarff / Getty Images

Advertising is expected to reach $486 billion, but down slightly due to the lack of special event programming, such as the Olympics. Pictured here is the Queen's rowbarge Gloriana, which is carrying the Olympic torch along the Thames toward the Opening Ceremony.

Advertising is expected to reach $486 billion, but down slightly due to the lack of special event programming, such as the Olympics. Pictured here is the Queen's rowbarge Gloriana, which is carrying the Olympic torch along the Thames toward the Opening Ceremony. (Oli Scarff / Getty Images)

Advertising strategy firm Magna Global has predicted the global advertising market would grow by 6% next year as the health of U.S. and European markets improves and as digital spending accelerates.

In its mid-year advertising forecast, Magna Global adjusted slightly its estimates for the year and now predicts 3% growth to $486 billion for 2013. Next year, the worldwide ad market should reach $515 billion.

Spending on digital media will jump 13.4% to $113.6 billion, with much of the growth coming from search and video.

Magna Global is the strategic planning arm of advertising behemoth Interpublic Group. The unit said that television advertising growth this year will slow considerably, inching up just 2%, because the 2013 calendar lacks major TV events, such as the Olympics.

Television remains the largest advertising platform, with an estimated $196.5 billion in worldwide revenue.

The picture is not as bright in the U.S., where TV ad revenue is expected to dip 2.8% due to the lack of the Olympics or political elections that generate big spending. Broadcast TV is expected to slide 6.8%, and cable TV is expected to be off by about 2.4% this year.

Worldwide, print publications will continue to lose market share, with newspapers declining by 3.3% this year and magazines falling 5%. Marketers globally will spend about $110 billion buying print ads.

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